Today marks a defining moment in Bilt’s mission to transform how Americans engage with their largest spending categories. Bilt announced it has raised $250 million in new primary funding, valuing the company at $10.75 billion. The round was led by General Catalyst and GID, with a significant strategic investment from United Wholesale Mortgage.

This milestone reflects the extraordinary momentum behind Bilt’s vision as the nation’s largest comprehensive loyalty platform connecting where people live with the businesses around them.

Building the Future of Home and Neighborhood

What began as a revolutionary idea—enabling renters to earn rewards on their biggest monthly expense—has grown into a much broader platform that reimagines how people experience their homes and communities. Today, Bilt’s network reaches 1 in 4 apartment buildings across the U.S. and partners with over 40,000 merchants nationwide.

Evolving beyond a credit card business, Bilt has created a loyalty ecosystem for all residents, regardless of payment method. Members can pay rent, HOA dues, and mortgage payments via ACH, debit, or credit card while earning rewards and supporting local businesses. Property managers and merchants benefit from increased spend and loyalty, while residents enjoy exclusive rewards and services.

Bilt’s rapid growth underscores its impact:

• Projected to surpass $1 billion in revenue by Q1 2026

• Processing over $100 billion annually in housing payments by year-end

• Driving $10 billion annually to neighborhood merchants

• Bilt Points ranked as the highest-value rewards currency in market

• Partnerships with 70% of the nation’s top 100 property managers

Creating Your Own Neighborhood Members Club

Bilt is scaling neighborhood commerce services to make communities feel like personal members clubs. Residents enjoy personalized recommendations from an AI-powered concierge, pay with points, access exclusive benefits, and receive complimentary perks at local merchants.

“The most important customers in our restaurant business are locals,” said Sam Bakhshandepour, CEO of José Andrés Group. “Bilt drives unprecedented connection to the neighborhood community and helps us deliver an even stronger guest experience.”

Expanding Across All Housing Categories

With this funding, Bilt will accelerate its reach across the entire housing ecosystem:

• Condos & HOAs: Expanding into condo communities through partnerships with Douglas Elliman, Century Management, and others, enabling homeowners to earn rewards on HOA dues.

• Student Housing: Launching with Blackstone’s American Campus Communities to bring rewards and local commerce to student housing nationwide.

• Mortgage Expansion: In partnership with United Wholesale Mortgage, Bilt will integrate loyalty into the mortgage lifecycle, from origination to servicing. United Wholesale Mortgage invested $100 million in this round, with more details to be shared this fall.

“Bilt’s platform will deliver tremendous value for brokers and homeowners by creating loyalty and a new pipeline of origination,” said Mat Ishbia, CEO of United Wholesale Mortgage.

Introducing Bilt Card 2.0

Based on feedback from tens of thousands of members, Bilt is launching an all-new suite of cards built with Cardless, known for the American Express Coinbase card. Bilt Card 2.0 will include:

• A no-fee card

• A $95 annual fee premium card

• A $495 annual fee flagship card

The new cards will offer enhanced rewards on both rent and mortgage payments and debut in February 2026. Current cardholders will transition seamlessly from Wells Fargo, with more details to be announced this fall.

A Platform Designed for Growth

Bilt’s scale fuels a powerful network effect: more properties attract more merchants, driving more value to residents and strengthening the ecosystem. With one of the most engaged communities across social media and Reddit, Bilt is building a movement far beyond traditional loyalty programs.

What’s Next

As Bilt scales into new verticals and expands its network, it remains committed to making where people live more rewarding—whether paying rent, buying a first home, or discovering a neighborhood restaurant.

“Bilt represents the convergence of America’s largest spending categories—housing and local commerce—into a single, powerful network,” said Ken Chenault, Chairman of Bilt. “This goes beyond your apartment walls—it’s about connecting you to your entire neighborhood.”

Thank you to our members and partners who have joined us in building the future of housing and neighborhood commerce. This is just the beginning. Together, we’re creating communities where everyone loves where they live.